馃搮 Original date posted:2015-08-11
馃摑 Original message:On 8/11/2015 2:23 PM, Adam Back via bitcoin-dev wrote:
> I dont think Bitcoin being cheaper is the main characteristic of
> Bitcoin. I think the interesting thing is trustlessness - being able
> to transact without relying on third parties.
>
That rules out Lightning Network.
Lightning relies on third parties all over the place. Many things must
be done right, and on-time by N intermediate third parties (subject to
business pressures and regulation) or your payment will not work.
Lightning hubs can't steal your money. Yay! But banks stealing your
payment money is not a problem with today's payment systems. Some real
problems with those systems are:
- Limited ACCESS to payment systems
- High FEES
- Transaction AMOUNT restrictions
- FRAUD due to weak technology
- CURRENCY conversions
Plain old bitcoin solves all of these problems.
Bitcoin does have challenges. THROUGHPUT and TIME-TO-RELIABILITY are
critical ones. DECENTRALIZATION and PRIVACY must not be degraded.
These challenges can be met and exceeded.
